Oil: “Sudden drop in crude oil”

The price of a barrel fluctuates with the news. In recent days, it has been wavering between conflicting expectations. On the one hand, markets were speculating on the decision by the Organization of the Petroleum Exporting Countries and its allies (OPEC+), expected Saturday, May 3, to continue loosening the production tap in June. And an additional flow of barrels means a decline in prices. On the other hand, investors were drinking in the pronouncements of Donald Trump, whose speech tap is constantly open at full speed.

However, following the postponement of a meeting as part of the nuclear negotiations between Iran and the United States, the American president did not fail to react on his Truth Social network on Thursday, May ^1st . He assured that he wanted to " immediately " strengthen sanctions affecting buyers of Iranian oil. This pressure, in turn, is likely to cause the oil price to rebound.

At the start of trading on Friday, May 2, the price of a barrel of North Sea Brent crude for July delivery was therefore hovering between two waters, slipping slightly to around $61.80. Its American equivalent, West Texas Intermediate (WTI), followed the same trajectory, falling below the $59 mark before fluctuating.

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